Saudi Arabia has always claimed vast oil reserves. An audit just proved it's right
DUBAI (CNN Business) -- Saudi Arabia has opened up its vast oil reserves to independent auditors for the first time.
The government of Saudi Arabia said in a statement Wednesday that US energy consultancy DeGolyer & MacNaughton had concluded that its oil reserves total 268.5 billion barrels.
The estimate is slightly higher than the 266.3 billion barrel figure previously published by the Saudi government.
Allowing an independent company to assess its reserves represents a maj...